We characterize the dispersion of firm-level productivity and demand shocks using Swedish microdata including prices … TFPQ dispersion in recessions. Productivity shocks pass through incompletely to prices and have limited effect on sales … facts, demand dispersion has unambiguously negative effects on output via a "wait and see" channel. Productivity dispersion …

is highly disaggregated at the industry level with an input-output network structure. Measured productivity in the model …-specific, uncorrelated across industries. The bulk of the aggregate fluctuations, including those in aggregate measured productivity, are … data. Our second finding is that about half of the decrease in the cyclicality of measured productivity in the U.S. after …

We characterize the dispersion of firm-level productivity and demand shocks over the business cycle using Swedish … than productivity dispersion in recessions. Productivity shocks pass through incompletely to prices and have limited effect … and see" channel. Productivity dispersion does not generate "wait and see" effects, but affects output negatively by …

effects of heterogeneous productivity across firms on macroeconomic dynamics. The first model indicates that monetary policy … amplification mechanism of exogenous technology shocks based on endogenous firm entry and heterogeneous productivity. Increasing … competition after a positive shock forces less productive firms to leave the market, leading to higher a average productivity …